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(Yicai Global) Oct. 22 -- China's Shijia Science & Technology, a supplier of precision enclosure systems to the Schindler Group and Thyssenkrupp, will invest CNY195 million (USD27.5 million) to meet the high demand for ceramic waveguide filters used in fifth-generation wireless networks base stations.
Shijia will use the funds to purchase land in a special economic zone in its home town and build a factory, the Suzhou-based firm said in a statement yesterday, without disclosing more details.
Founded in 1990, Shijia's clients include US Otis Elevator, and Finland's Kone.
Shijia's [SHE: 002796] share price declined by 2.8 percent to CNY35.75 (USD5.05) by noon.
Editor: Emmi Laine